Lions Gate Metals Inc. Terminates Agreement on its Poplar Project with Canadian Dehua International Mining Inc.
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/24/13 -- Lions Gate Metals Inc. (TSX VENTURE: LGM) ("Lions Gate" or the "Company") announces that it has formally ended its agreement with Canadian Dehua International Mining Inc. ("Dehua") for the purchase of the Company's Poplar Copper Gold and Silver Project ("Poplar") near Houston, BC. Under the terms of the Letter of Intent ("LOI") announced October 19th, 2012, Dehua was to have acquired a one hundred percent interest in Poplar by paying the Company $15,000,000 in cash and performing work on Poplar over a two-year period. Dehua has provided notice to the Company that it does not intend to make further payments as outlined in the LOI.
John Cavanagh, CEO of Canadian Dehua International Mining stated, "We thank Lions Gate for the opportunity to work on the Poplar Project. Although we were not able to undertake a drilling program in 2013, we do hope to work with Lions Gate in the future."
Mr. Arni Johannson further commented, "Although we were happy with the transaction with Dehua we are equally happy to have another opportunity to work on this great project. We will keep our lines of communication open with Dehua and look at all our options moving forward to advance the Poplar project."
Lions Gate Metals Inc. is a Canadian company with an attractive share structure, listed on the TSX Venture Exchange. Currently debt-free, with projects in British Columbia, Canada, Lions Gate is actively seeking new global opportunities in the commodities space.
Sincerely on behalf of the Board of Directors,
Arni Johannson, CEO & Chair, Lions Gate Metals Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING FUTURE PLANS AND OBJECTIVES OF THE COMPANY ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S PLANS OR EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING IN CONNECTION WITH THE COMPANY'S PROPOSED PRIVATE PLACEMENT, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, REGULATORY CHANGES, TIMELINES OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. ACCORDINGLY, READERS ARE ADVISED NOT TO PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS OR INFORMATION.
Contacts:
Lions Gate Metals Inc.
Blair McIntyre
Exec VP
(778) 837-6812
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Datum: 24.10.2013 - 23:22 Uhr
Sprache: Deutsch
News-ID 309298
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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